CorMedix (CRMD) Trading Down 10%

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CorMedix Inc. (NYSEAMERICAN:CRMD)’s share price dropped 10% during mid-day trading on Friday . The stock traded as low as $1.65 and last traded at $1.71. Approximately 4,748,400 shares were traded during trading, an increase of 44% from the average daily volume of 3,301,154 shares. The stock had previously closed at $1.90.

CRMD has been the topic of several research analyst reports. Zacks Investment Research cut CorMedix from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Roth Capital initiated coverage on CorMedix in a research report on Thursday, December 6th. They set a “buy” rating and a $6.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $3.50 price target on shares of CorMedix in a research report on Friday.

CorMedix (NYSEAMERICAN:CRMD) last issued its quarterly earnings results on Wednesday, November 14th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.05 million.

In related news, CFO Robert W. Cook bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average cost of $1.17 per share, for a total transaction of $29,250.00. Following the acquisition, the chief financial officer now directly owns 127,083 shares of the company’s stock, valued at approximately $148,687.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Myron Kaplan bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The stock was bought at an average price of $1.30 per share, for a total transaction of $65,000.00. Following the completion of the acquisition, the director now directly owns 371,166 shares in the company, valued at $482,515.80. The disclosure for this purchase can be found here. Insiders purchased a total of 478,500 shares of company stock worth $658,730 over the last 90 days.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of CorMedix by 11.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 78,890 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 8,000 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of CorMedix by 109.7% during the third quarter. Virtu Financial LLC now owns 394,051 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 206,099 shares in the last quarter. EAM Investors LLC purchased a new position in shares of CorMedix during the third quarter valued at $701,000. Vanguard Group Inc. grew its holdings in shares of CorMedix by 49.7% during the third quarter. Vanguard Group Inc. now owns 2,673,113 shares of the biotechnology company’s stock valued at $2,589,000 after buying an additional 886,894 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of CorMedix by 49.7% during the third quarter. Vanguard Group Inc now owns 2,673,113 shares of the biotechnology company’s stock valued at $2,589,000 after buying an additional 886,894 shares in the last quarter.

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CorMedix Company Profile (NYSEAMERICAN:CRMD)

CorMedix, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally. Its primary focus is on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.

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